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April 24, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Roseville, Business Loans > Wachovia Sba Lending, Inc. Roseville Business Loans > La-Z-Boy Furniture Galleries Loan | ||||
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Good Sources for Davenport SBA Loans
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Wachovia Sba Lending, Inc. Provides SBA Loan to Buy La-Z-Boy FranchiseNeed a loan to invest in a La-Z-Boy franchise? Wachovia Sba Lending, Inc. has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a La-Z-Boy franchise may simply require a phone call to a local SBA banker. In 2004, Wachovia Sba Lending, Inc. issued an SBA franchise loan to an entrepreneur in Davenport, Iowa. Because La-Z-Boy was registered with the SBA's registry of franchises, this Iowa small business loan was issued on an expedited basis. SBA Loan Borrower LA-Z-BOY FURNITURE GALLERIES SBA Loan Lender WACHOVIA SBA LENDING, INC. This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 442110 - Furniture Stores Loan Approval Date 11/30/2004 Loan Approval Gross Amount $510,000 Loan Approval from the SBA Of the total $510,000 loan amount, the SBA guaranteed $249,900. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a La-Z-Boy franchise. At the time of the loan, the company had 24 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wachovia Sba Lending, Inc. are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Banking Deregulation's Effects on Entrepreneurship Banks in Roseville, California
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